Parap is a smaller suburb in Northern Territory within the Darwin local government area (postcode 0820). With a population of 2,819, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $116K per year, with an average household size of 2.3 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Parap is $945,000, having surged 14.5% over the past year. Units have a median price of $365,000 (+12.3% YoY). The median weekly rent is $415 (Census 2021). This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,232.
Parap is served by 1 school, including 1 primary. The average ICSEA score is 1066, which is above the national average of 1,000. Public transport access includes 12 bus stops.
From an investment perspective, Parap offers a gross rental yield of 2.3%, rated as low yield. Property prices are above the state median ($945K/$711K), placing it in the premium segment. The price-to-income ratio of 8.1x is considered moderate. House prices have moved +14.5% year-on-year.
Parap is a smaller suburb in Northern Territory within the Darwin local government area (postcode 0820). With a population of 2,819, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $116K per year, with an average household size of 2.3 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Parap is $945,000, having surged 14.5% over the past year. Units have a median price of $365,000 (+12.3% YoY). The median weekly rent is $415 (Census 2021). This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,232.
Parap is served by 1 school, including 1 primary. The average ICSEA score is 1066, which is above the national average of 1,000. Public transport access includes 12 bus stops.
From an investment perspective, Parap offers a gross rental yield of 2.3%, rated as low yield. Property prices are above the state median ($945K/$711K), placing it in the premium segment. The price-to-income ratio of 8.1x is considered moderate. House prices have moved +14.5% year-on-year.